Small Business Basic Bookkeeping Checklist
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DAILY BOOKKEEPING
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Check how much cash you have on hand
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Be aware of incoming and outgoing payments
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WEEKLY BOOKKEEPING
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Record customer billings
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Record vendor payments
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Record customer payments
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File vendor bills and payment records
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Update payroll file
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Make vendor payments
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Prepare and send invoices
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Review forecasted cashflow
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MONTHLY BOOKKEEPING
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Balance the checkbook
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Review aged receivables (past due customer payments)
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Check inventory and analyze its status
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Process and review payroll
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Meet payroll tax requirements
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Review profit and loss compared to budget and previous years
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Review month-end balance sheet
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QUARTERY BOOKKEEPING
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Evaluate annual profit and loss estimate
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Quarterly payroll payments
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Make quarterly sales tax payments
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Make income tax payments
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ANNUAL BOOKKEEPING
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Review aged receivables. Send to collections?
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Year-end inventory status analysis
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Fill out IRS forms
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Review full-year financial reports
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Review tax returns before giving them to accountant